05/02/2015

Date and Time

TURMERIC APR NCDEX

05/Feb/2015

Turmeric Apr Turmeric futures traded lower despite a decline in major spot markets, prices

STOCK: TURMERIC

made low of 8004 levels and finally closed at lower around 8048 level. Expected lower production

APR

in major producing states such as Andhra Pradesh and Tamil Nadu and pickup in demand may

Call: SELL

support the prices in coming days. According to reports, new turmeric crops have started arriving

CMP: 8048

in the spot market of Nizamabad in Telangana at a high pace of around 5000-6,500 bags (1 bag =

Initiation Level:

70 kg). But the quality of produce is down, due to very high moisture content of around 20%. This

Around 8300

is due to lack of sunlight as low temperature and cold wave situation. As per reports from Spice

Book Profit (Level 1):

Board of India, the estimated exports of Turmeric during April-December 2013 was pegged at

8100

58000 MT, up by 17% same period previous year. In value terms, it was up by 45% at Rs 463.8 Cr.

Book Profit (Level 2):

However, unable coming demand from overseas so could see a downside in market and major

7900

weakness is seen only if prices rupture support of 7840 could see downside bias towards 7580

Stop Loss: Above 8450

followed by 7240 that could negate present uptrend in the near term. Hence, we recommend sell

Conviction Level:

on rise around 8300 could see downside bias towards 8100 followed by 7900 for the days.

Moderate Risk.
Reasoning. (Read
Technical
commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 8000-79007700
Resistance-83008480-8630
Duration: 4-5 Days
Recommendation:On the basics of technical
and fundamental analysis
we are Recommending to
sell on rise Tmc Apr
around (8350) with the
Stop Loss of 8550 for the
Target of 8200 and 7900.

TMC APR DAILY TECHNICAL CHART

JEERA MAR NCDEX

Date and Time

05/Feb/2015
STOCK: JEERA

Mar

Jeera Mar NCDEX: Jeera prices slumped melt like ice in previous session from the high
of 15355 made low of 14640 level and finally closed lower at 14650 level in previous day,

Call: SELL

besides, the decrease in OI may keep profit booking for the next couple of days, as prices

CMP: 14790

cleared the down trend line support of 14300 for the strong downside rallies to 13800

Initiation Level: Around

followed by 13050 or even lower to 12680 levels in the near term. Jeera as overall

14800

Fundamentals remained strong. The exports are likely to slow down, Good domestic and

Book Profit (Level 1):

14620

export demand along with forecast of a 33% drop in productivity could also support prices in
the near term. Improved export demand amidst firmness in Dollar vs Re supported the prices.

Book Profit (Level 2):

On the other hand, a cooler weather in Gujarat and Rajasthan is expected to be beneficial for

14450

the crop growth, As well, the sustained export demand amid a supply crunch in the global

Stop Loss: Above 15080

market may limit sharp fall in prices. On the other side, if prices breach the resistance of

Conviction Level:

15300 could turn the outlook into positive territory in the near term.

Moderate Risk.
Reasoning. (Read
Technical commentary).

Hence, we recommend sell around 14800 could see downward bias towards 14620 followed
by 14400 for the day.

Short term Trend:

Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 15000-1488014500
Resistance-1530015580-15800
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending Sell
Jeera FEB below 14800 for
the target of 14600 14200
with a strict a stop loss of
15080.

JEERA MAR DAILY TECHNICAL CHART

CCHATECHNICALCHART

CHANA APR NCDEX

Date and Time

05/Feb/2015
STOCK: CHANA APR
NCDEX

Call: SELL
CMP: 3538
Initiation Level:
Around 3550
Book Profit (Level 1):
3500
Book Profit (Level 2):
3460
Stop Loss: Above 3600
Conviction Level:
Moderate Risk.

Chana Apr NCDEX: Prices rebounded firmly from the resistance of 3609 levels on dated 02
February 2015, made low of 3500 levels in previous day and finally closed lower at 3538 levels
as subdued domestic market demand kept trend down. Lower production possibilities could
support the market sentiments Bullish but as harvesting of the new crop picks up in coming
days; this could prevent prices from shooting up a lot as arrivals rise. Demand will pick up as
skies clear. High Pulses stocks and bearishness in International markets kept pressure on the
domestic market sentiments. But a fall in Rabi sowing area for Rabi Pulses and lower
International production prospects could support prices in medium to long term. Prices are
however at strong psychological Support level of 3300 for February 2015 contract. As per 1st
Advanced crop estimates for 2014-15 by Govt of India, India is likely to produce Kharif Food
grains of 120.27 million tonnes, which is down by 8.97 million tonnes from the record 129.24
million tonnes achieved in Kharif 2013-14.
Hence, we recommend sell on rise around 3550 could see downward bias towards 3500
followed by 3460 for the day.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 3480-34303380
Resistance-3560
3580-3630
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending sell
Chana Apr NCDEX around
3550 for targets of 3460
3400 with a strict a stop
loss of above 3630.
CHANA APR DAILY TECHINICAL CHART

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